Stadium Capital Management LLC Acquires Shares of 67,800 Etsy, Inc. (NASDAQ:ETSY)

Stadium Capital Management LLC bought a new position in shares of Etsy, Inc. (NASDAQ:ETSY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 67,800 shares of the specialty retailer’s stock, valued at approximately $3,586,000. Etsy makes up approximately 3.0% of Stadium Capital Management LLC’s portfolio, making the stock its 7th largest position. Stadium Capital Management LLC owned 0.06% of Etsy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lindbrook Capital LLC increased its position in shares of Etsy by 55.7% during the fourth quarter. Lindbrook Capital LLC now owns 506 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $37,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Etsy in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 99.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price objective on Etsy from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Loop Capital decreased their price objective on Etsy from $40.00 to $37.00 and set a “sell” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Etsy from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald raised their price target on Etsy from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price target on Etsy from $35.00 to $31.00 and set a “sell” rating on the stock in a report on Thursday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Etsy has an average rating of “Hold” and a consensus price target of $50.14.

Insider Buying and Selling

In other Etsy news, insider Nicholas Daniel sold 1,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $50.48, for a total transaction of $75,720.00. Following the sale, the insider now owns 20,698 shares in the company, valued at approximately $1,044,835.04. This represents a 6.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Josh Silverman sold 21,666 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $52.05, for a total value of $1,127,715.30. Following the sale, the chief executive officer now owns 5,004 shares in the company, valued at approximately $260,458.20. This trade represents a 81.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,618 shares of company stock worth $3,469,803 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Etsy Stock Up 0.1%

Shares of NASDAQ ETSY opened at $47.00 on Friday. Etsy, Inc. has a 52 week low of $40.05 and a 52 week high of $66.93. The firm has a 50-day moving average price of $45.36 and a 200 day moving average price of $50.88. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $651.18 million for the quarter, compared to analysts’ expectations of $642.22 million. Etsy had a negative return on equity of 46.62% and a net margin of 10.80%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities research analysts expect that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy Company Profile

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.